Global X Japan Co. Ltd. Lowers Stock Position in Prologis, Inc. (NYSE:PLD)

Global X Japan Co. Ltd. cut its stake in shares of Prologis, Inc. (NYSE:PLD) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,744 shares of the real estate investment trust’s stock after selling 98 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Prologis were worth $347,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. American Capital Advisory LLC acquired a new stake in Prologis in the second quarter valued at $26,000. Semmax Financial Advisors Inc. acquired a new stake in Prologis in the second quarter valued at $27,000. Central Valley Advisors LLC acquired a new stake in Prologis in the second quarter valued at $29,000. Sunbelt Securities Inc. lifted its holdings in Prologis by 640.0% in the second quarter. Sunbelt Securities Inc. now owns 259 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 224 shares during the period. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Prologis in the second quarter valued at $31,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Prologis

In other Prologis news, CIO Joseph Ghazal sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $129.07, for a total value of $671,164.00. Following the transaction, the executive now directly owns 13,187 shares of the company’s stock, valued at $1,702,046.09. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on PLD. Scotiabank raised their target price on Prologis from $135.00 to $142.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Bank of America reaffirmed a “neutral” rating and set a $128.00 price target on shares of Prologis in a research note on Monday, August 12th. Wells Fargo & Company lifted their price target on Prologis from $142.00 to $146.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Argus lifted their price target on Prologis from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Barclays cut their price target on Prologis from $142.00 to $131.00 and set an “overweight” rating for the company in a research note on Thursday, October 10th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.47.

Prologis Stock Up 1.0 %

Shares of NYSE:PLD opened at $118.94 on Wednesday. The stock has a 50-day simple moving average of $125.31 and a 200-day simple moving average of $117.51. The stock has a market capitalization of $110.12 billion, a P/E ratio of 34.78, a PEG ratio of 3.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.36 and a current ratio of 0.36. Prologis, Inc. has a 1 year low of $96.64 and a 1 year high of $137.52.

Prologis (NYSE:PLD) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.29). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.91 billion. Prologis had a return on equity of 4.88% and a net margin of 36.37%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. Equities analysts forecast that Prologis, Inc. will post 5.42 earnings per share for the current year.

Prologis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, September 16th. Prologis’s payout ratio is 112.28%.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.